Cash strapped brothers Malvinder and Shivinder Singh are in active discussions with private equity group TPG Capital to sell a significant minority stake in Fortis Healthcare. The transaction may also see the folding back of the Singapore listed business trust into the listed Indian entity, said four sources aware of the transaction. The quantum of… Read More »
Canada’s commercial real estate market hit a record C$11.16 billion ($8.41 billion) in quarterly transaction volumes and is on track to reach new highs for the year, as investors’ hunt for yield and gains in the oil-producing province of Alberta bolster activity, real estate services firm CBRE Limited said on Monday. A recovery in oil… Read More »
To better understand the effect of demonetisation it is necessary to segregate the real estate market into primary and secondary. Primary market will constitute of the new apartments and flats that are being constructed and sold by prominent real estate developers. Secondary market involves the resale of existing residential flats, land and commercial properties. Secondary markets… Read More »
Cash-strapped Haryana Urban Development Authority (Huda), which is struggling to meet its daily expenditure, is planning to auction 17 commercial properties in Rewari and Dharuhera on November 1. The auction is expected to raise around Rs 25 crore. Huda had listed several commercial properties in Gurgaon, Rewari and Dharuhera for auction in March, but had failed… Read More »
UK commercial property values slipped in September but at a slower pace than in July and August, a closely-watched index showed, suggesting concerns about the impact of Britain’s vote to leave the European Union are easing. Overall property values for UK commercial assets fell 0.21% in September, following a 0.65% fall in August, and 2.8% fall… Read More »
India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the… Read More »
A consortium of US-based investors that developed First International Finance Center (FIFC), a landmark commercial building in Mumbai’s financial district, Bandra Kurla Complex (BKC), plans to sell its stake in the property for around Rs. 1,500 crore, said two people aware of the development. Around 300,000 sq. ft of the total 657,000 sq. ft office complex… Read More »
DLF Ltd, India’s largest real estate developer, has shortlisted bidders for the ongoing office stake sale transaction and expects to receive binding, updated bids in the form of shareholder agreement once the short-listed bidders complete their due diligence. The realty firm circulated the information memorandum to a number of investors across the globe in April, and… Read More »
Guindy and Manapakkam micro markets are set to witness a major growth in IT, IT SEZ and industrial sectors with a slew of projects being planned by the developer community. About five lakh sq ft of IT and 7.5 million sq ft of IT SEZ space are coming up and expected to be ready for occupation… Read More »
Foreign buyers are helping to drive a jump in sales of top-tier Canadian office buildings, industry players say, with a soft currency and the country’s relative stability helping attract interest from abroad. While the Canadian economy is struggling with the drag from weak oil prices, global events like Britain’s vote to leave the European Union have… Read More »
